Friday, January 4, 2013

1/4/13 - EOD Update

No surprise here that the market has continued to extend upwards. We'll just have to wait for wave wave {i} to complete.

60 Min

Weekly
I've posted this chart a few times several weeks back. The market was a tad late on the santa rally but so far is making up for it.

We must keep in mind that wave 5 of C can truncate without touching the upper TL near the 1475 level, which would result in a double top. Let's keep an eye on the MACD histograms and TL for signs, otherwise, we should not be surprised for a move towards the upper TL.
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